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L'Oréal Is in Talks to Buy PPR Unit

Updated Jan. 24, 2008 12:01 a.m. ET

French cosmetics giant L'Or&eacute;al SA said it made an offer to retail and luxury company PPR SA for its cosmetics division, YSL Beaut&eacute;, for an enterprise value of &euro;1.15 billion ($1.68 billion).

L'Or&eacute;al said it entered exclusive negotiations with PPR for the purchase of the activity that PPR has worked to turn around.